https://www.taxtmi.com/highlights?id=93016 The AT upholds the finding of contravention of Section 9(1)(b) and 9(1)(d) of the Act of 1973 against the appellant, holding his confessional statement-recorded after issuance of summons and not during custody-admissible and made voluntarily; co-noticee statements and documentary material corroborated involvement in hawala-style transactions. The AT declines to follow the High Court's acquittal rationale, applying the Apex Court principle that a voluntary confession in civil proceedings requires no further corroboration. The AT reduces the imposed penalty from Rs. 20,00,000 to Rs. 5,00,000 in view of mitigating circumstances (including age and pre-deposit), affirms confiscation of Rs. 21,80,000, and disposes of the appeal accordingly. en-us Fri, 03 Oct 2025 08:30:38 +0530 Fri, 03 Oct 2025 08:30:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=93016 The AT upholds the finding of contravention of Section 9(1)(b) and 9(1)(d) of the Act of 1973 against the appellant, holding his confessional statement-recorded after issuance of summons and not during custody-admissible and made voluntarily; co-noticee statements and documentary material corroborated involvement in hawala-style transactions. The AT declines to follow the High Court's acquittal rationale, applying the Apex Court principle that a voluntary confession in civil proceedings requires no further corroboration. The AT reduces the imposed penalty from Rs. 20,00,000 to Rs. 5,00,000 in view of mitigating circumstances (including age and pre-deposit), affirms confiscation of Rs. 21,80,000, and disposes of the appeal accordingly. Highlights FEMA Fri, 03 Oct 2025 08:30:38 +0530 https://www.taxtmi.com/highlights?id=93016